Home » NEWS » Banking & Finance » Peoples Bank takes home national SBA award

Peoples Bank takes home national SBA award

MENDENHALL — Peoples Bank of Mendenhall recently received the Small 7(a) Lender of the Year Award from the U.S. Small Business Administration (SBA).

While portfolio performance played a significant role in the award, the institution’s continued support of small business, especially in underserved communities during challenging economic times was also a major factor.

In FY 2010, Peoples Bank made 320 SBA loans to small businesses, delivering more than $21 million to small businesses in Mississippi, with more than $6.8 million of that total going to borrowers in underserved markets.

Peoples received its awarded during Small Business Week, when the SBA honors State Small Business Persons of the Year from all 50 states, the District of Columbia, Guam and Puerto Rico and the Virgin Islands, and recognizes businesses recovering from natural disasters, people who have helped others recover from natural disasters, small business lenders, small business contractors and contracting officers and advocates for small businesses.

Source: SBA

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About For the MBJ

Leave a Reply

Your email address will not be published. Required fields are marked *

*